UAE CMA recognition of CFA® Program Levels I, II and III
CFA Program Levels I, II and III are now equivalent to licensing examinations from the Chartered Institute for Securities & Investment (CISI).
The Capital Market Authority (CMA), the UAE’s federal securities regulator and the successor to the Securities and Commodities Authority (SCA), has recognized CFA Program Levels I, II and III as equivalent to licensing examinations from the Chartered Institute for Securities & Investment (CISI). Following a technical equivalency study, CMA approved the licensing equivalency on 8 October 2026.
CISI is a UK-based professional body whose exams are used in the UAE as part of the licensing requirements for finance and investment professionals.
CMA licensing equivalencies
CFA Program Level I
Recognized as equivalent to CISI exams Level I, Fundamentals of Financial Services and Global Securities Operations.
CFA Program Level II
Recognized as equivalent to International Certificate in Wealth Management (ICWIM).
CFA Program Level III
Recognized as equivalent to Corporate Finance Technical Foundation and International Certificate in Wealth Management (ICWIM), Level 3. (Equivalency applies only to CFA Program Level III candidates on the Private Markets Pathway.)
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The CFA Program is your pathway to becoming a Chartered Financial Analyst® (CFA®). Equipping you with real-world skills in investment analysis, a Chartered Financial Analyst designation helps you thrive in the competitive investment industry.
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